Derwent London’s executive director Nick Friedlos has resigned to ‘pursue other opportunities in the property sector’.

He was previously finance director at London Merchant Securities (LMS) and became a board member of Derwent London following LMS’ merger with central London developer Derwent Valley in February this year.

He joined LMS in 2003 and was involved in the integration of the two companies. Friedlos was also working on Derwent London’s plans to convert to a REIT in July this year.

Derwent London chairman Robert Rayne said he wished Friedlos success in this future career. ‘On behalf of the board, I would like to take this opportunity to thank Nick for the significant contribution he has made to both the merger of LMS with DVH and to the subsequently successful integration of the two companies.

"We wish him every success in his future career,’ said Rayne.